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Kenya

CDC Investments in Kenya tops Sh7..4b

NAIROBI, Kenya, Nov 8 –  The Board of CDC Group Plc, the UK’s development finance institution will next week visit Kenya to assess businesses funded by CDC. The investment firm has put in Kenya projects worth more than Sh7.4 billion.

The Board will be inthe country from the 16th to 18th of this month and would meet key partners as well as key players within the Small and Medium Enterprises (SMEs) sector.

According to CDC’s CEO Richard Laing: “CDC has invested in more than 60 Kenyan companies spread around the key sectors of infrastructure, financial services, manufacturing, agribusiness, energy and utilities, and information and communication technologies (ICT).”

CDC will also host a financial investment forum bringing together entrepreneurs, investors and others which will be held at the Serena Hotel on Nov 17.

CDC has been in the Kenyan market since the corporation was created in 1948. Formerly a direct investor in Kenyan businesses, CDC now invests its capital in locally-based fund managers who use their understanding of the local economy to invest in Kenyan businesses of different sizes and in different sectors.

Some of the local companies where CDC has invested include Athi River Steel Plant, Brookside Dairy Ltd, Wananchi Group, Tsavo Power Company and Equity Bank.
The sector split of CDC’s investments (by value) is broadly: “Fifty percent in Infrastructure, 25 percent Financial Services, nine percent Industrials. Others are six percent in Agribusiness. Six percent whiel in Energy and Utilities and 6 percent in ICT.

In 2009 alone, CDC investments directly supported over 9,300 jobs in Kenya with the companies in which CDC has invested paying US$32m (approx. Sh2.6billion) in local taxes.

CDC works with a number of fund managers who are locally-based and are investing in Kenyan businesses and helping them grow. These include:
•    Actis (through their Actis Real Estate Fund, Actis Agribusiness Fund and other funds)
•    Aureos (through their Aureos Africa Fund and their Aureos East Africa Fund)
•    Business Partners International, Kenya (through their SME fund)
•    ECP (through their ECP Africa Fund III)
•    Grofin (through their Grofin Africa Fund and their Grofin East Africa Fund)
•    Helios (through the Helios Investors Fund)

 

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